MKT 421 Final Exam Guide (New, 2018)

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__________ is best defined as the process of continuously obtaining information on events happening outside a company to recognize and interpret possible trends that affect marketing.
Relationship marketing
Digital marketing
Customer relationship management
Environmental scanning
A __________ is often referred to as a business firm.
government agency
nonprofit organization
publicly owned organization
for-profit organization
The __________ refers to the seven stages a company goes through to recognize opportunities and convert them into sellable services or products
service gap analysis
strategic focus and plan
new-product process
psychographic segmentation process
__________ differentiates retail outlets depending on whether contractual systems independent retailers or corporate chains own the outlet.
Form of ownership
Retail servicing
Level of service
Merchandise line
Which of the following is true of the price equation?
Extra fees are not part of the price equation.
Sellers subtract the add-on charges from the list price.
The amount paid by customers is always the same as the quoted price.
Customers are more inclined to pay additional fees than a higher list price.
A society’s __________ represent socially or personally preferable states of existence or modes of conduct that persist over time.
languages
symbols
values
customs
__________ segmentation is done according to an objective measurable physical or other classification attribute of potential consumers.
Psychographic
Demographic
Behavioral
Geographic
A __________ is any word, device (shape, design, color, or sound), or combination thereof used to differentiate a seller’s services or products
brand name
trade name
trademark
brand personality
Yes Music is the authorized distributor for products of Trompa Instruments, a popular manufacturer of trumpets and other brass instruments. Yes Music purchases products from Trompa and distributes them to music stores across the country. What kind of intermediary function does Yes Music perform for Trompa?
Managerial
Facilitating
Transactional
Logistical
The idea of the __________ describes the phases a new product goes through in the marketplace.
product life cycle
strategic marketing process
new-product process
marketing life cycle
__________ are small downloadable software programs that work on tablet devices and smartphones.
Algorithms
Apps
Databases
RFIDs
__________ is the combination of benefits such as convenience, quality, and on-time delivery provided to targeted buyers by firms at a particular price.
Customer value
Seller Value
Manufacturer value
Business value
The __________ sells a marketing plan to readers by being clear and direct.
mission statement
executive summary
company description
strategic focus and plan
__________ relate to the effort spent in making sales.
Marketing input data
Marketing outcome data
Observational data
Primary data
What is the difference between a marketing plan and a business plan?
A marketing plan deals with marketing actions, whereas a business plan addresses the entire organization.
A marketing plan contains a description of an organization, whereas a business plan does not contain any description.
A marketing plan contains details on operations, research, and manufacturing, whereas a business plan does not.
A marketing plan addresses the financial projections of an organization, whereas a business plan does not
Darby’s Burgers Ltd. uses the best quality meats in its burgers. However, this fact is not being marketed well to its potential consumers, leading to a decline in sales. There is a growing demand for quality meat products among the health-conscious that could work in Darby’s favor. However, Darby’s must compete with fast-food chains that offer burgers at low prices. Which of the following statements describes Darby’s weakness according to SWOT analysis?
There is a growing demand for quality meat products among the health-conscious.
Darby’s must compete with fast-food chains that offer cheap burgers.
Darby’s quality is not well-marketed or advertised to its potential consumers.
Darby’s uses good quality meats in its burgers.
__________ is the act of using quotas or tariffs to shield one or more industries within a country’s economy from foreign competition.
Commercialism
Centralism
Provincialism
Protectionism
The __________ of the environment include the population and culture’s demographic characteristics.
technological forces
competitive forces
social forces
economic forces
The trade of offerings of value between a buyer and a seller, resulting in mutual benefit, is called a(n) __________.
exchange
advertisement
communication
marketing mix
The shares of Agro Textiles Ltd. are valued lower than its competitors. To increase its value, the company decides to study its current situation and see how it can improve itself. Which of the following strategic marketing processes should be used by Agro to analyze its situation?
Marginal analysis
Break-even analysis
Business portfolio analysis
SWOT analysis
A __________ is when manufacturers direct their promotional efforts toward channel partners to convince them to order and stock products.
multi-marketing strategy
pull strategy
push strategy
skimming strategy
What is the difference between advertising and personal selling?
Advertising is always a paid activity to sell a product, whereas personal selling involves no direct payment to sellers.
Advertising can control the amount of wasted coverage, whereas personal selling cannot control the amount of wasted coverage.
Advertising does not have an immediate feedback loop, whereas personal selling does because of direct interaction with potential consumers.
Advertising uses customized interaction between sellers and potential consumers, whereas personal selling sells to a large group of potential consumers.
__________ is an activity that creates, communicates, and delivers products and services that benefit an organization, its stakeholders, its customers, and society as a whole.
Marketing
Advertising
Purchasing
Manufacturing
What is the difference between primary and secondary data?
Primary data are newly collected facts and figures for a project, whereas secondary data are facts and figures recorded prior to a current project.
Primary data relate to the results of marketing efforts, whereas secondary data relate to the effort spent in making sales.
Primary data relate to the effort spent in making sales, whereas secondary data relate to the results of marketing efforts.
Primary data are facts and figures recorded prior to a current project, whereas secondary data are newly collected facts and figures for a project.
What must an organization use to determine its position respective to the competition during the new-product strategy development stage?
Strategic focus and strategic plan
Promotion and price strategy
Geographic and demographic segmentation
SWOT analysis and environmental scanning
Banana Technologies Inc. operates through brick-and-mortar stores that allow customers to personally check the brand’s computers and ask questions about its products. Upon purchase of any of its computers, the company allows the customers to return to the store for free consultations up to one year while also providing free software upgrades. Which marketing strategy is Banana Technologies Inc. following?
Niche marketing
Digital marketing
Relationship marketing
Guerilla marketing
At the __________ level the top management of a company directs the overall strategy for the whole company.
strategic business unit
functional
human resources
corporate
Which of the following is true of economic development considerations?
A company must understand whether a country has a mixed economy or a more agricultural economy.
A company must weigh the average income of a country’s consumers.
A company must consider a country’s communications, distribution, and transportation systems.
A company must recognize a country’s currency exchange rates and price its products accordingly.
Which of the following is a step in the planning stage of the strategic marketing process?
The implementation phase
The results program
The evaluation phase
The marketing program
__________ segmentation is done according to where potential consumers live or work
Behavioral
Demographic
Psychographic
Geographic

Resources: University Library, Internet
Select an organization with which you are familiar that conducts
both domestic and global marketing.
Write a 1,050- to 1,400-word paper in which you identify the
environmental factors that affect global and domestic marketing
decisions. ..

You are the marketing manager for a leading coffee chain. Your company has made the decision to expand internationally, specifically into China. What are some environmental factors that you will need to consider in marketing your coffee in China? Which of one of these factors would have the large..

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Florida's Department of Citrus and a coalition of consumer groups have launched an attack on your company for deceptive marketing because your company markets its SunShine drink as fruit juice even though the drink contains less than 5% fruit juice. Marketing SunShine drink as a fruit juice leads..

Resources: University Library, Internet
Use the product or service you selected for your Marketing Plan:
Phase I Paper.
Write a 1,400- to 1,750-word paper to include the following
information:
• Describe the attributes of your product or service in detail.
• Describe the p..

Resources: Using Perceptual Maps in Marketing simulation
Complete the simulation, Using Perceptual Maps in Marketing,
located on the student website.
Write a 1,050- to 1,450-word summary in which you address the
following:
For each of the three major phases in the simulation, ..

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What are the similarities and differences between promotional push strategies and promotional pull strategies? What is an example of a situation in which an organization would use a push strategy? What is an example of a situation in which an organization would use a pull strategy?
..

Resources: University Library, Internet
Use the product or service you selected for your Marketing Plan:
Phase I Paper.
Write a 1,400- to 1,750-word paper in which you address the
following:
• Identify the segmentation criteria that will affect your target
market selection..

Resources: University Library, Kudler Fine Foods Virtual
Organization
Use the Virtual Organization link on the student website to
access additional company information on Kudler Fine Foods.
Write a 1,050- to 1,400-word paper in which you justify the
importance of marketing res..

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Select a product or service. Then select three different organizations that provide your selected product or service and compare the prices associated with your selected product or service. What is the difference between the prices among the different organizations? What is the rationale for this..

Select a product with which you are familiar. What stage is your selected product at in the product life cycle? Provide rationale for your answer. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life ..

Resources: University Library, Internet
Create a new product or service for an existing organization. This
product or service will be the basis for your Marketing Plan
Paper. Obtain your instructor’s approval of your product or
service before beginning this project.
Write a 1,..

Resources: University Library, Internet
Write a 1,400- to 1,750-word paper in which you describe the
elements of the marketing mix (product, place, price, and
promotion). In addition, select an organization with which you are
familiar and describe how each one of the four elements..

What is competitive intelligence? What is the importance of competitive intelligence and analysis in modern-day marketing? How can a company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in respon..

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What is marketing research? How has the Internet affected marketing research? As a part of your answer, address time, cost, approaches, and validity. Why is marketing research important to developing marketing strategy?
..

Resource: University Library
Write a 700- to 1,050-word paper in which you define marketing.
Include in your paper your personal definition of marketing and
definitions from two different sources. Based on these definitions,
explain the importance of marketing in organizational su..

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Assume you are the newly hired marketing manager of a company. As you spend time with other peer marketing managers, you realize that the company doesn’t place an emphasis on planning within the marketing organization. Why is planning important in marketing? What are the essential components of a..

Select an organization with which you are familiar. How does your selected organization use the different components of the marketing mix? How does the marketing mix affect the development of your selected organization’s marketing strategy and tactics? How can your selected organization use..

This tutorial contains 2 different papers
Write a 750- to 1,000-word paper in which you identify your favorite brand and explain why it is your favorite. In the paper you should do the following:
Identify a brand about which you are passionate.
Explain a minimum of three reasons..

This Tutorial contains 2 Different PPT
Select a company currently experiencing marketing changes.
Create a 6-slide Microsoft® PowerPoint® presentation (including a title slide) that analyzes that company's marketing mix:
Each of the four P's should be addressed on its ..

This Tutorial contains 2 Different Papers
Write a 750- to 1000-word paper that does the following:
Summarizes your background and what makes you unique in a 1-paragraph elevator pitch
Identifies 3 to 4 companies you want to work for, and an explanation as to why
..

This Tutorial contains 2 Papers
Select a new product or service that will be launched by either an existing organization or one you will create. Obtain your instructor's approval of your product or service before beginning this project.
Complete the following assignment using the "Strategy and..

This Tutorial contains 2 Different Papers
Write a 750- to 1,000-word paper that describes the importance of blue ocean strategy and identifies a product or service that would be considered a blue ocean move. Include the following:
A description of blue ocean strategy and it..

This Tutorial contains 2 Papers
Use the same product and organization you identified in your Week 3 Strategy and Positioning Analysis.
Develop a 1,750-2000-word analysis that includes:
• Describe how your marketing efforts and marketing mix will change with each phase in the product life cycle
..

This tutorial contains two sets of Paper and Presentation
Combine your Strategy and Positioning and Product, Pricing, and Channels papers along with your promotional strategy into a single Marketing Plan.
Write a 6,000- to 7,000-word paper that integrates your previous Learning..

1. A __________ is a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
marketing dashboard
marketing plan
operation plan
mission statement
2. What is meant by “accelerating the process?”
Increase advertising costs d..

This Tutorial contains 2 Papers
Use the same company from your Week 2 assignment.
Your company has decided to launch a new line of products.
Create a 1,400-word report and include the following information:
 Identify a new product/service.
 Choose the target market for your product/service,..

This Tutorial contains 2 Papers
Watch the video case study "Geek Squad: A New Business for a New Environment."
Read the case study discussion on pp. 88-89 of the Marketing text. Keep this case study in mind as you complete this assignment.
Write a 1,050-word report using your company or one wi..

This Tutorial contains 2 Papers
Create a 700-word elevator pitch that includes the following:
§ Summarize your background and what makes you unique (your competitive advantage/differentiation) in a one-paragraph elevator pitch.
§ Identify three to four companies for whom you want to w..

This Tutorial contains 2 Presentations
Using the same company you chose for your Week 2 assignment, choose a product or service the company offers on which to focus.
Identify the important attributes for your chosen product and select two key variables for your perceptual map.
Prepare a pe..

Purpose of Assignment
The purpose of this assignment is to assess marketing concepts and situations from an entrepreneurial manager's point of view. Concepts and relationships are discussed with a special focus on aligning one's ethics and values with their business actions and understanding the u..

Purpose of Assignment
A well planned distribution channel system is a key component of the marketing mix that helps meet customer demands and achieve company goals. This assignment will analyze the role channels of distribution have in meeting the needs of consumers in both a brick and mortar and ..

MKT 421 WEEK 3 Mapping the Product Life Cycle (PLC) Presentation
Purpose of Assignment
The Product Life Cycle (PLC) is a vital component of the marketing plan. Monitoring products and services as they flow through this process helps marketing managers adjust their marketing strategies to keep pro..

This Tutorial contains 2 Presentation
The purpose of this assignment is to place students in the active role of a marketing manager with a problem threatening the organization's survival. Students will respond to a specific scenario that requires them to address the concepts both critically and c..

__________ is best defined as the process of continuously obtaining information on events happening outside a company to recognize and interpret possible trends that affect marketing.
Relationship marketing
Digital marketing
Customer relationship management
Environmental scanning
A __..

MKT 421 Week 4 Logistics and Distribution
There are basically five approaches for entering an international market; usually the choices and risks are very product dependent. Assume you are a consultant specializing in global logistics and distribution. There are four clients that are planning to ..

MKT 421 Week 1 Marketing and Buying Behaviors
Marketing is really a study in behaviors: what do we consume and why. As you start to sink your teeth into some new concepts within marketing, reflect for a moment about your own buying behaviors. Can you identify the determining dimension or dimensio..

Scenario: You are sitting in your home and you pick up a package of Oreos™ (or some other product of your choosing). After realizing that you have purchased this product for years, you wonder, “Why do I feel so strongly about this product?” You remember your readings from Marketing class and decide..

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Scenario: Your team is looking for a way to make some revenue as either a for-profit or not-for-profit organization. This organization can market locally, nationally, or internationally. The product that you have decided to sell is lemonade. To make the endeavor work, you will have to define a marke..

Scenario: Using the same organization and the lemonade drink from the Week 4 Learning Team assignment, develop an analysis for the bank. The bank will be using this information to make their final decision on how, and if, to fund your company’s new and unique lemonade. Through your research, you hav..